China all alone in Asian M&A growth

China's mergers and acquisitions (M&A) activity remained resilient in 2008 despite the global financial meltdown, making it the best performer in the Asia region, according to information company Thomson Reuters.

M&A activity in the country was at an all-time high of $159.6 billion worth of deals last year, 44 percent more than in 2007, compared with the year-on-year 11.1 percent fall in Asia, excluding Japan, Thomson Reuters said in a report.

"China was the only country in the region to experience growth in such a tumultuous environment, and it's also the most targeted nation in Asia with a 26.9 percent market share, " the report pointed out.